Hônk-Tree: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Hônk-Tree
Largest movements
- Receivables within one year +€71,651
new in 2025: €71,651
- Debts after one year -€1.0m
down €1.0m (-100.0%), from €1.0m to €0
- Current portion of long-term debt +€794,396
up €794,396 (+237.7%), from €334,186 to €1.1m
- Other debts +€403,947
up €403,947 (+25532.3%), from €1,582 to €405,529
- Profit (loss) carried forward -€82,119
down €82,119 (-74.0%), from -€110,897 to -€193,016
- Financial charges +€22,651
up €22,651 (+58.9%), from €38,481 to €61,131
- Gross operating margin -€5,561
down €5,561 (-59.2%), from -€9,397 to -€14,958
- Other operating charges +€424
up €424 (+7.6%), from €5,605 to €6,029
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,277,261 | €1,364,092 | +€86,831 | +6.8% |
| Current assets | 29/58 | €1,277,261 | €1,364,092 | +€86,831 | +6.8% |
| Stocks and contracts in progress | 3 | €1,277,105 | €1,287,409 | +€10,305 | +0.8% |
| Stocks | 30/36 | €1,277,105 | €1,287,409 | +€10,305 | +0.8% |
| Amounts receivable within one year | 40/41 | - | €71,651 | +€71,651 | |
| Other amounts receivable | 41 | - | €71,651 | +€71,651 | |
| Cash at bank and in hand | 54/58 | €156 | €5,031 | +€4,875 | +3122.6% |
| Total equity and liabilities | 10/49 | €1,277,261 | €1,364,092 | +€86,831 | +6.8% |
| Equity | 10/15 | -€90,897 | -€173,016 | -€82,119 | -90.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€110,897 | -€193,016 | -€82,119 | -74.0% |
| Amounts payable | 17/49 | €1,368,158 | €1,537,108 | +€168,950 | +12.3% |
| Amounts payable after more than one year | 17 | €1,030,490 | €0 | -€1.0m | -100.0% |
| Financial debts | 170/4 | €1,030,490 | €0 | -€1.0m | -100.0% |
| Amounts payable within one year | 42/48 | €337,667 | €1,537,108 | +€1.2m | +355.2% |
| Current portion of amounts payable after more than one year | 42 | €334,186 | €1,128,582 | +€794,396 | +237.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,900 | €2,997 | +€1,097 | +57.8% |
| Suppliers | 440/4 | €1,900 | €2,997 | +€1,097 | +57.8% |
| Other amounts payable | 47/48 | €1,582 | €405,529 | +€403,947 | +25532.3% |
| Other operating charges | 640/8 | €5,605 | €6,029 | +€424 | +7.6% |
| Gross operating margin | 9900 | -€9,397 | -€14,958 | -€5,561 | -59.2% |
| Operating profit (loss) | 9901 | -€15,002 | -€20,988 | -€5,985 | -39.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €38,481 | €61,131 | +€22,651 | +58.9% |
| Recurring financial charges | 65 | €38,481 | €61,131 | +€22,651 | +58.9% |
| Profit (loss) for the period before taxes | 9903 | -€53,483 | -€82,119 | -€28,636 | -53.5% |
| Profit (loss) for the period | 9904 | -€53,483 | -€82,119 | -€28,636 | -53.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€53,483 | -€82,119 | -€28,636 | -53.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.